Ripple and Binance have joined as founding members, alongside Coinbase, Kraken, OKX, Robinhood, Crypto.com, PayPal, Stripe, and Anchorage Digital. The initiative marks what TRM Labs calls “an unprecedented level of industry collaboration,” designed to prevent illicit funds from leaving the blockchain by quickly blocking off-ramps used by bad actors.
The Beacon Network will connect crypto firms with global law enforcement, enabling agencies to flag high-risk wallet addresses and issue alerts that prevent criminals from cashing out stolen or fraudulent funds. Security experts and blockchain sleuths such as ZachXBT, Security Alliance (SEAL), and zeroShadow will also play a key role, providing continuous monitoring and intelligence to track emerging threats.
The urgency of the initiative reflects the sharp rise in crypto-related crimes. Since 2023, at least $47 billion in crypto has been sent to fraud-related addresses. In 2025 alone, more than $2.3 billion has already been stolen in hacks, including the historic $1.5 billion Bybit exploit, the largest crypto exchange hack to date.
Hackers moved Bybit funds through 10,000 transactions within the first month, underscoring the need for faster detection and coordination. More recently, the CoinDCX hack saw $44 million drained, further highlighting vulnerabilities.
Industry leaders like Ripple and Binance are expected to play a central role in stopping funds from being laundered through their platforms. Binance, for example, was instrumental in assisting Bybit in response to its record-breaking exploit. TRM Labs emphasized that the Beacon Network is not just about detection but real-time response, aiming to create a more secure and cooperative crypto ecosystem.
The launch comes as the U.S. Treasury gathers public input on combating illicit finance tied to stablecoins, following the passage of the GENIUS Act. Meanwhile, the Senate’s draft Crypto Market Structure bill also includes provisions to strengthen anti-crime frameworks for digital assets. As regulators and industry leaders converge on the issue, the Beacon Network could mark a turning point in how crypto firms and governments collaborate to stop bad actors in their tracks.
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By Coindoo
about 9 hours ago
